UK food inflation ‘could hit 9%’, trade body warns as Reeves meets retail chiefs

UK food inflation ‘could hit 9%’, trade body warns as Reeves meets retail chiefs

Discussion on how to ease impact from Iran war coincides with Food and Drink Federation almost tripling forecast Food inflation could hit 9% in the UK this year even if the strait of Hormuz opens within the next few weeks, figures suggest, as the Iran war pushes up energy prices. The Food and Drink Federation (FDF), which represents 12,000 food and drink manufacturers, has predicted prices will rise by “at least” 9% by the end of 2026, almost tripling a forecast of 3.2% that was made before the Middle East conflict. Continue reading...